Vista Equity Partners has made an investment in SmartBear, a provider of software development and quality tools. No financial terms were disclosed. SmartBear is backed by Francisco Partners.
SOMERVILLE, Mass.–(BUSINESS WIRE)–SmartBear, a leading provider of software development and quality tools, announced today that Vista Equity Partners (“Vista”), a leading global investment firm focused on enterprise software, data, and technology-enabled businesses, has successfully closed their investment in the company, originally announced in October 2020.
With its investment, Vista joins Francisco Partners, a leading global technology-focused investment firm, which acquired SmartBear in 2017. Together, Vista and Francisco Partners will partner with the SmartBear management team to accelerate growth, promote innovation, and expand the business in support of the rapidly growing DevOps market.
SmartBear solutions include modern technologies around API lifecycle management, test automation, test management, performance optimization, and collaboration. These solutions are used by leading organizations to enable the design, development, and release of higher-quality software at scale.
“We are excited to use this investment to advance our positive impact on software development teams everywhere, who are migrating to quality-driven DevOps to increase their competitive market positioning through reduced costs and quicker time to market,” said Frank Roe, CEO of SmartBear. “We completed 2020 with another record year of growth and are thrilled with the support and partnership we now have from Vista and Francisco Partners to broaden and strengthen our product offerings and also identify continued organic and inorganic growth opportunities.”
About Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
At SmartBear, we focus on your one priority that never changes: quality. We know delivering quality software over and over is complicated. So, our tools are built to streamline your process while seamlessly working with the products you use – and will use. Whether it’s TestComplete, Swagger, Cucumber, ReadyAPI, Zephyr, or one of our other tools, we span from test automation, API design, collaboration, performance testing, test management, and more. Whichever you need, they’re easy to try, easy to buy, and easy to integrate. We’re used by 15 million developers, testers, and operations engineers at 24,000+ organizations – including world-renowned innovators like Adobe, JetBlue, FedEx, and Microsoft. Wherever you’re going, we’ll help you get there. Learn more at smartbear.com, or follow us on LinkedIn, Twitter, or Facebook.